Buy it? Or sell the rip?
The market appears to be early in a 5 day cycle up phase that began yesterday afternoon. So far, it is weak but it is working on breaking out of a downtrend channel, as of 4:30 AM New Yak time.
I guess we’ll find out.
Lindsay Williams interviewed me earlier today. I talk about the coup, and a stock that went up 1000% in 36 hours.
Even though I knew it was coming, and I warned about it here and elsewhere for the past couple of years, I’m having difficulty processing the Trump coup attempt.
I’m still not sure that it has failed. I’m not at all confident that things are under control, and that the US will have a functioning government.
It’s like somebody took a bite out of the middle of the thing this week.
When an index makes higher highs and higher lows, that’s an uptrend, which is what we’ve had since Monday. And Monday’s drop only resulted in a single lower low, relative to the previous uptrend. It’s not yet apparent whether a lower high has been set….
As of this morning, the ES fucutures, representing the broad big cap US market, are at a price level it first reached on December 4. Reminds me of the old stock market adage, up the escalator, down the elevator.
One day, we’re gonna get the shaft.
Without the elevator cab.
I think that if there’s anything that illustrates the head in the sand problem of the banks, it’s this. Commercial real estate (CRE) finance. There’s a monster in the room. All that empty room.